Beginning balances of Evergreen Company's accounts as of January 1, 2012 as given below: Balance Account...

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Beginning balances of Evergreen Company's accounts as of January 1, 2012 as given below: Balance Account Title Debit Credit Cash $18,200 Accounts Receivable 25,000 Supplies 12,000 Prepaid Rent Inventory 7,500 Equipment 30,000 Accumulated Depreciation 16,000 Accounts Payable 21,000 Salary Payable 10,000 Unearned Service Revenue Capital Sales Revenue 1,200 44,500 Sales Returns& Allowances Sales Discounts Cost of Goods Sold Rent Expense Depreciation Expense Supplies Expense During January 2012, Evergreen completed the following transactions: Jan 2: Purchased 50 units of inventory on account, $6,500. Jan 4: Prepaid three months' office rent, $3,300. Jan 7: Sold 70 units on cash, $10,500. Jan 10: Paid on account, $5,000. Jan 15: Purchased 40 units on account, $5,400. Jan 20: Sold 30 units on account, $4,500 ($150 each). Credit terms of 2/10, n/30. Jan 22: Customer returned 10 units of the damaged inventory sold on Jan 20. Jan 25: Customer paid on account for the remaining balances of Jan 20 sales. (Note: You need to calculate remaining balance from Jan 20 sales because there is sales return on Jan 22. Take into consideration the discount because it is paid within discount period) On January 31, 2012 Evergreen completed following adjusting entries: Expiration of prepaid rent, $1,100. Depreciation for the month, $1,000. Supplies on hand, $8,000 Unearned sales revenue still unearned, $400. Requirements: 1. Journalize end post the January transactions using the perpetual inventory record. (Open T- accounts for each of the accounts given in trial balance, do not forget to write beginning balances) 2. Prepare LIFO schedule to calculate the Cost of Goods Sold (COGS) on the Jan 7, and 20th (Beginning inventory as of January 1 include 60 units $125 each which totals $7,500 as given) 3. Prepare unadjusted trial balance as of January 31, 2012. 4. Journalize and post the adjusting entries. 5. Prepare adjusted trial balance as of January 31, 2012. 6. Journalize closing entries. Beginning balances of Evergreen Company's accounts as of January 1, 2012 as given below: Balance Account Title Debit Credit Cash $18,200 Accounts Receivable 25,000 Supplies 12,000 Prepaid Rent Inventory 7,500 Equipment 30,000 Accumulated Depreciation 16,000 Accounts Payable 21,000 Salary Payable 10,000 Unearned Service Revenue Capital Sales Revenue 1,200 44,500 Sales Returns& Allowances Sales Discounts Cost of Goods Sold Rent Expense Depreciation Expense Supplies Expense During January 2012, Evergreen completed the following transactions: Jan 2: Purchased 50 units of inventory on account, $6,500. Jan 4: Prepaid three months' office rent, $3,300. Jan 7: Sold 70 units on cash, $10,500. Jan 10: Paid on account, $5,000. Jan 15: Purchased 40 units on account, $5,400. Jan 20: Sold 30 units on account, $4,500 ($150 each). Credit terms of 2/10, n/30. Jan 22: Customer returned 10 units of the damaged inventory sold on Jan 20. Jan 25: Customer paid on account for the remaining balances of Jan 20 sales. (Note: You need to calculate remaining balance from Jan 20 sales because there is sales return on Jan 22. Take into consideration the discount because it is paid within discount period) On January 31, 2012 Evergreen completed following adjusting entries: Expiration of prepaid rent, $1,100. Depreciation for the month, $1,000. Supplies on hand, $8,000 Unearned sales revenue still unearned, $400. Requirements: 1. Journalize end post the January transactions using the perpetual inventory record. (Open T- accounts for each of the accounts given in trial balance, do not forget to write beginning balances) 2. Prepare LIFO schedule to calculate the Cost of Goods Sold (COGS) on the Jan 7, and 20th (Beginning inventory as of January 1 include 60 units $125 each which totals $7,500 as given) 3. Prepare unadjusted trial balance as of January 31, 2012. 4. Journalize and post the adjusting entries. 5. Prepare adjusted trial balance as of January 31, 2012. 6. Journalize closing entries.